Brazil H1 soybean exports drop 9% year-on-year

Brazil shipped 55.1 million tonnes of soybeans in the first half of 2022, 8.87% less than in the same period of 2021 (60.5 million tonnes), according to the National Association of Cereal Exporters. (Anec).

The decline in numbers is explained by lower shipments to China (main destination, with 41.6 million tonnes in 2021 and 36.9 million tonnes in 2022) and the Netherlands (4th largest destination, with 2.5 million tonnes in 2021 and 1.7 million tonnes in 2022), respectively, 11.2% and 32.2% less compared to 2021.

See below the track record of Brazilian exports of soybeans from January 2019 to June 2022. The data below was gathered by Datamar’s business intelligence team through DataLiner.

Soybean exports from Brazil | Jan 2019 – Jun 2022 | WTMT

Source: DataLiner (click here to request a demo)

Impact of crop failure

In this 2021/22 crop, there was a significant crop failure, approximately 20 million tonnes below expectations. The severe drought that hit the states of Rio Grande do Sul, Paraná, and Mato Grosso do Sul for months was the cause of the production reductions.

The first expectations were for a production of 144 million tonnes and 92 million tonnes for export, which did not happen due to the drought.

According to Anec, this proves that soybeans are a typical export commodity since the majority of it is exported, as opposed to maize, where the majority of it is consumed domestically.

Source: Canal Rural

To read the full original article, please go to: https://www.canalrural.com.br/projeto-soja-brasil/brasil-exportacao-soja-primeiro-semestre-2021/

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